Business Description

BUSINESS OVERVIEW This report combines the Annual Reports on Form 10-K for the year ended December 31, 2025 for OneMain Holdings, Inc. (“OMH”), a publicly held financial service holding company, and its wholly-owned direct subsidiary, OneMain Finance Corporation (“OMFC”). OMFC is the issuing entity of our outstanding public debt securities and all of OMFC’s common stock is owned by OMH. The information in this combined report is equally applicable to OMH and OMFC, except where otherwise indicated. OMH and OMFC are referred to in this report, collectively with their subsidiaries, whether directly or indirectly owned, as “the Company,” “OneMain,” “we,” “us,” or “our.” As one of the nation’s leaders in offering nonprime consumers responsible access to credit, we: • offer personal loan products; • offer secured auto financing at the point of purchase; • offer credit card products; • offer optional products; • offer a customer-focused financial wellness platform (Trim by OneMain); • service loans owned by us and third parties; • pursue strategic acquisitions and dispositions of assets and businesses; and • may establish joint ventures or enter into other strategic alliances. We provide origination, underwriting, and servicing of consumer loans, consisting of personal loans and auto finance. In addition, we offer BrightWay credit cards through a third-party bank partner from which we purchase the receivable balances. We believe we are well positioned for future growth with an experienced management team, proven access to the capital markets, and strong demand for consumer credit. At December 31, 2025, we had $24.8 billion of finance receivables due from approximately 3.6 million customer accounts. We service the loans that we retain on our balance sheet, as well as loans owned by third parties. At December 31, 2025, we had $26.3 billion of managed receivables due from approximately 3.8 million customer accounts. Our branch network of more than 1,300 locations is staffed by experienced loan specialists. This network is complemented by our digital lending and servicing capabilities, central operations staff and our network of franchise and independent auto dealerships. Together, these resources allow us to operate in 48 states and serve more customers through their preferred channel: in person, digitally, and over the phone. INDUSTRY AND MARKET OVERVIEW We operate in the consumer finance industry serving consumers who typically have more limited access to credit from banks, credit card companies, and other lenders. Using third party market data as of December 2025 and internally aligning to our current product offerings, we estimate U.S. nonprime consumers collectively have approximately $1.3 trillion of outstanding borrowings in the form of personal loans, auto loans and leases, and credit cards. We believe this large market provides us with an attractive growth opportunity. Our national branch network and digital platform, combined with our central operations and our network of auto dealerships, provide the opportunity for the Company to serve this market efficiently and responsibly. Our auto finance and credit card offerings continue to deepen our existing customer relationships, attract new customers, and further our vision to be the lender of choice for nonprime consumers. We believe we are well-positioned to capitalize on the significant growth and expansion opportunity within our industry. See also “Competition” included in this report. 9 Table of Contents SEGMENT Consumer and Insurance At December 31, 2025, Consumer and Insurance (“C&I”) was our only reportable segment. We originate and service personal loans and auto finance loans, offer credit cards, and provide optional credit and non-credit insurance and other optional products through our branch and central operations, as well as our digital platform. Consumer loan origination and servicing, credit cards, and insurance products form the core of